New LG washers plant inaugurated in Egypt

CAIRO – 15 July 2017: A new washers factory, established by South Korean LG Electronics, was inaugurated in the 10th of Ramadan City Saturday, with LE 120 million ($6.66 million) in investments.

The factory would produce 87,000 electronic washers annually, 56,000 of which will be exported, Minister of Trade and Industry Tarek Kabil said during the inauguration ceremony.

LG Electronics is currently investing LE 180 million in Egypt; LE 174 million of them in the television sets network and LE 6.5 million in washing machines manufacturing.

Kabil said LG exports $250 million from Egypt, adding that the local component is 51 percent in TV sets and 46 percent in washers.